Ringing Bells Shuts Shop, Opens A New Company

Ringing Bells, the controversial company that claimed to offer world’s cheapest smartphone – Freedom 251 – for Rs 251 but never delivered the phones after cheating thousands of Indians, seems to have closed the current establishment as it has incorporated a new company a week back.

The new company founded by the same men who also founded Ringing Bells is MDM Electronics Private Limited. The directors of the new company include Mohit Goel -who is the MD of Ringing Bells, Shashank Goel – also linked to the old company, and Ashok Chaddha – President of the company. In fact Chaddha was the face of Ringing Bells and was the official spokesperson of the company, though he was not a director of Ringing Bells.

The company -MDM Electronics Pvt Ltd – was incorporated on 7 December with an authorized share capital of Rs. 2,500,000 and paid up capital is Rs. 2,000,000 with its registered office at  C-2, Third Floor, Kailash Colony, New Delhi.

Though it is not known the exact business objective of the new company, but as its name suggests, it may enter into the same business as Ringing Bells – selling electronics products like mobile phones, smartphones and TVs.

As far as Ringing Bells is concerned, it seems they have closed their business. The company’s website is not anymore active and its CEO Dharna Goel has quit from the board of directors. Besides the CEO, some other directors including Sumit Goel have also resigned from its board.

The company has been in controversy from day one of its public appearance when it announced it will bring world’s cheapest smartphone – Freedom 251 at Rs 251, which will be home-delivered if its pre-booked through its website. Millions of Indians registered themselves for the Freedom 251 but the smartphone was never delivered.

Many filed cheating cases against the company, including the government agencies keeping a close watch on the company as well as the movement of functioning executives.

As recent as last week, a Delhi court had summoned the owners of Ringing Bells in a cheque bounce case. Aryan Infratech Pvt Ltd, a private firm, had filed a cheque bounce case against the company, its CEO Dharna Goel, Managing Director Mohit Goel, Directors Anmol Goel and Sumit Goel, and President Ashok Chaddha.

Ringing Bells, as per the complaint, had issued a cheque worth Rs 2 crore to Aryan Infrastructure but the cheque bounced because of ‘insufficient funds’. It was then sent a legal notice by the aggrieved party but Ringing Bells failed to make any payment.

The next hearing of the case is on 28 April.

 

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